Hi Seldom,
You mentioned picking up your toys and moving on. To me, this is one of the most important thing any trader should learn to do. I probably make ten to twenty options trades a week, more than many on this thread, but I find that I can sleep better at night if, at the first whiff of danger, I can execute a repair strategy or simply "take my lumps" and move to another trade. It's the the old adage "Cut your losses and let the winners ride."
I was interested to read the various posts by PAL, edamo and others about repair strategies for covered calls. Like PAL, I'd written cc's on QCOM before my vacation last week and returned to the bittersweet 20-point rise (bittersweet because my calls are now $3 1/4 underwater.)
PAL, you mentioned buying back half your calls, then selling more further up (the April 160's, I believe) rather than out (to Mays or beyond). This only partially repairs the situation, no? Or are you willing to have half your shares called out?
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